Sandisk (NASDAQ:SNDK) Given New $1,875.00 Price Target at Mizuho

Sandisk (NASDAQ:SNDK) had its price target dropped by equities researchers at Mizuho from $1,900.00 to $1,875.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the data storage provider’s stock. Mizuho’s price target indicates a potential upside of 25.58% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Wedbush reissued an “outperform” rating and set a $2,000.00 target price on shares of Sandisk in a report on Friday, August 14th. Morgan Stanley upped their price target on shares of Sandisk from $1,100.00 to $1,750.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Weiss Ratings downgraded Sandisk from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Raymond James Financial reiterated an “outperform” rating and set a $1,470.00 price objective on shares of Sandisk in a research note on Friday, May 1st. Finally, Zacks Research raised Sandisk from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $1,998.14.

Sandisk Trading Down 6.5%

Shares of NASDAQ:SNDK opened at $1,493.12 on Tuesday. Sandisk has a twelve month low of $46.01 and a twelve month high of $2,354.39. The company has a market cap of $218.62 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 0.16 and a beta of 5.21. The company’s 50 day moving average is $1,643.27 and its 200 day moving average is $1,229.65.

Sandisk (NASDAQ:SNDK) last announced its quarterly earnings data on Wednesday, August 5th. The data storage provider reported $39.25 EPS for the quarter, beating the consensus estimate of $33.28 by $5.97. Sandisk had a net margin of 56.47% and a return on equity of 87.84%. The business had revenue of $8.96 billion during the quarter. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was up 371.6% on a year-over-year basis. Sandisk has set its Q1 2027 guidance at 44.000-46.000 EPS. Equities research analysts predict that Sandisk will post 208.92 earnings per share for the current fiscal year.

Sandisk declared that its board has initiated a stock repurchase plan on Wednesday, August 5th that permits the company to repurchase $14.00 billion in shares. This repurchase authorization permits the data storage provider to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Sandisk news, EVP Alper Ilkbahar sold 2,000 shares of Sandisk stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,756.58, for a total value of $3,513,160.00. Following the completion of the transaction, the executive vice president owned 52,677 shares of the company’s stock, valued at approximately $92,531,364.66. The trade was a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bernard Shek sold 600 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,162.16, for a total transaction of $697,296.00. Following the completion of the transaction, the insider owned 30,915 shares of the company’s stock, valued at approximately $35,928,176.40. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,800 shares of company stock worth $6,504,856 over the last three months. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sandisk

Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Sandisk by 235,032.6% in the 2nd quarter. California State Teachers Retirement System now owns 380,392,755 shares of the data storage provider’s stock worth $864,910,419,000 after purchasing an additional 380,230,977 shares during the period. BlackRock Inc. acquired a new stake in Sandisk in the second quarter valued at approximately $23,408,732,000. State Street Corp increased its position in shares of Sandisk by 20.7% in the fourth quarter. State Street Corp now owns 5,281,522 shares of the data storage provider’s stock valued at $1,253,728,000 after buying an additional 904,933 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Sandisk by 44.9% in the fourth quarter. Geode Capital Management LLC now owns 3,655,860 shares of the data storage provider’s stock valued at $866,310,000 after buying an additional 1,133,276 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Sandisk by 31.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,478,002 shares of the data storage provider’s stock worth $825,608,000 after buying an additional 828,332 shares during the period.

Sandisk News Roundup

Here are the key news stories impacting Sandisk this week:

• Positive Sentiment: Sandisk’s data-center revenue, AI-driven demand and multi-year contracts are improving revenue visibility. The stock had risen about 25% over the prior month before the latest pullback. SNDK Jumps 25% in a Month: Is there More Room for the Stock to Rise?
• Positive Sentiment: Higher NAND pricing continues to support results. TrendForce expects NAND contract prices to increase another 10% to 15% this quarter after a much larger prior-quarter jump; Sandisk said higher pricing drove roughly two-thirds of its sequential fiscal fourth-quarter revenue growth. Sandisk Rode an Estimated 70% Jump in NAND Prices
• Positive Sentiment: A recently announced $14 billion share-buyback authorization could support earnings per share and signal management confidence following the stock’s substantial run-up. $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
• Positive Sentiment: Analyst commentary remains constructive, citing strong profitability, earnings growth and the possibility that AI-related memory demand will extend the current cycle. Sandisk and 2 Profitable Stocks to Buy Now

About Sandisk

SanDisk Corporation offers flash storage solutions. The Company designs, develops and manufactures data storage solutions in a range of form factors using flash memory, controller, firmware and software technologies. The Company operates through flash memory storage products segment. Its solutions include a range of solid state drives (SSD), embedded products, removable cards, universal serial bus (USB), drives, wireless media drives, digital media players, and wafers and components. It offers SSDs for client computing applications, which encompass desktop computers, notebook computers, tablets and other computing devices.